List of Recently Funded Series D Startups (2025)
Series D Startups are in hyper-scale mode and they’re not slowing down.
These are late stage companies with proven traction, serious revenue, and massive rounds often exceeding $100 million. They’re entering new markets, acquiring competitors, expanding internationally, and preparing for IPO or major exits.
At Fundraise Insider, we track every newly funded Series D startup across the US and deliver verified contact info for the founders, C-suite, and key department heads behind their next phase of growth – the best sales prospecting leads.
At this stage, they’re building enterprise operations, hiring senior leaders, consolidating platforms, and partnering with vendors who can support global scale and complexity.
Below is a free preview of recently funded Series D companies. Want full access to every new Series D deal each week plus verified emails and LinkedIn contacts of the people leading the charge?
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Recently Funded Series D Startups
Download the full list of funded startups (for c-suite contacts, click here)
Other Recently Funded Startups Data
- Recently funded Pre-Seed startups
- Recently funded Seed startups
- Recently funded Series A startups
- Recently funded Series B startups
- Recently funded Series C startups
- Recently funded Series E startups
- Recently funded startups across all funding stages
Series D Startup Funding: Statistics and Trends Data
These insights map the mid-late-stage funding landscape, spotlighting the dominance of IT Services in California and the pacing of Series D deployments across the quarter.
Total Series D Startup Funding Rounds and Timeline
- 22 financings from January 13 to April 16, 2025.
Series D Startup Funding Checks
- Mean: $158.4 M | Median: $102.5 M
- Interquartile Range: $46.25 M (25th) to $250 M (75th)
- Range: $0 (1 undisclosed) to $480 M
Monthly Series D Startup Funding Trends
- January: 3 rounds, $235 M total
- February: 8 rounds, $1.173 B
- March: 8 rounds, $2.114 B
- April (to 4/16): 3 rounds, $0.475 B
Top Industries by Series D Funding Round Count
- Information Technology and Services: 12 rounds
- Hospital and Health Care: 3
- Research: 2
- Defense and Space: 2
- Biotechnology: 1
Top Industries by Series D Total Capital
- Information Technology and Services: $1.903 B
- Hospital and Health Care: $0.495 B
- Research: $0.431 B
- Defense and Space: $0.250 B
- Biotechnology: $0.205 B
Geographic Concentration of Series D Startup Funding Rounds
- By Deal Count: California (14), New York (3), Pennsylvania (2), Alabama (1), Massachusetts (1)
- By Deployed Capital: California ($1.976 B), New York ($0.523 B), Alabama ($0.450 B), Pennsylvania ($0.300 B), Minnesota ($0.175 B)
Series D Startup Funding: Growth Curves Across Top Industries Compared
- Information Technology and Services (pink) surged from $100 M in January to $900 M in February, then gradually declined to $420 M by April, highlighting a strong early quarter peak.
- Hospital and Health Care (red) rose steadily from $110 M to $390 M in February before tapering to $180 M by April, a smooth “hill” pattern.
- Research (blue) spiked to $400 M in February then fell off sharply, with no March/April activity, indicating a one off boost.
- Defense and Space (orange) and Biotechnology (gold) both had modest activity concentrated in two to three months, peaking at $60 M and $50 M, respectively.
Key Takeaways:
- Early Surge Sectors: IT Services and Hospital and Health Care are most active early in the quarter.
- Short-Lived Peaks: Research offers big but quick opportunities; timing is critical.
- Consistent Mid-Range Deals: Defense and Space and Biotechnology deliver smaller, steadier capital flows.
Exceptionally Large and Small Series D Startup Funding Rounds
Exceptionally Small Series D Startup Funding Rounds (≤ $30 M, 5th percentile threshold)
- Vouch: $25 M on 2025-02-13
- Clear Labs: $30 M on 2025-01-13
No Exceptionally Large Series D Outliers
- Using an IQR-based upper threshold of $555.6 M, there are no rounds exceeding this amount.
Strategic Takeaways For Series D Startups Funded
Average Series D Startups Deal Size by Industry
- Defense and Space: $250 M
- Information Technology and Services: $211.4 M
- Hospital and Health Care: $165 M
- Research: $143.6 M
- Biotechnology: $102.5 M
Average Series D Startups Funding Deal Size by State
- Alabama: $450 M (driven by a single large round)
- Minnesota: $175 M
- New York: $174.3 M
- Pennsylvania: $150 M
- California: $141.1 M
Industry-State Clusters for Series D Startup Funding
Information Technology and Services:
- California: 6 rounds @ $182.5 M avg
- New York: 1 round @ $308 M
- Alabama: 1 round @ $450 M
Hospital and Health Care:
- Pennsylvania: 1 round @ $250 M
- New York: 1 @ $140 M
- California: 1 @ $105 M
Research:
- California: 3 rounds @ $143.6 M avg
Defense and Space:
- California: 1 @ $250 M
Biotechnology:
- Minnesota: 1 @ $175 M
- California: 1 @ $30 M
Strategic Takeaways:
- High-Value Niches: Defense & Space and IT & Services in markets like Alabama and New York show outsized check sizes.
- Volume Hubs: California drives the most Series D activity across multiple sectors with solid mid-range averages.
- Selective Markets: States like Minnesota and Pennsylvania offer niche biotech and healthcare rounds with above average checks.